BJ's Wholesale Grocers Reports Record Forth Quarter Fiscal Results
WESTBOROUGH, MA - Spring certainly seems to be around the corner, and with spring fever comes high tidings—or at least, that’s how it is for BJ’s Wholesale Club! The wholesaler reported record-breaking fourth quarter 2018 results, ending February 2, 2019.
“We’re pleased with our fourth quarter and full year performance, which exceeded our expectations for sales and earnings,” said Christopher J. Baldwin, Chairman and Chief Executive Officer, in a press release. “We ended the year with all-time high renewal rates and membership fee income. We delivered strong fourth quarter merchandise comp sales, supported by a successful holiday season and continued momentum through January. Looking ahead, we intend to continue to invest in our strategic priorities and look forward to driving further improvement in our business in 2019 and beyond.”
Highlights from fourth quarter fiscal 2018:
- Comparable club sales excluding gasoline sales increased 2.9% for the quarter and 2.2% for the full year
- Income from continuing operations of $63.7 million for the quarter and $127.1 million for the full year
- Record fourth quarter Adjusted EBITDA of $165.4 million and $578.4 million for the full year
- Net income of $64.3 million, or $0.46 per diluted share, and Adjusted net income of $62.1 million, or $0.44 per diluted share, for the quarter
- Net income of $127.3 million, or $1.05 per diluted share, and Adjusted net income of $186.2 million, or $1.33 per diluted share, for the full year
For the full details of the financial report, click here.